A credit term of 3/10 net 60 means Discount of 0.3% if paid immediately else payment is effected after 60 days Discount of 10% if paid within 3 days else payment is effected after 60 days Discount of 3% if paid within 10 days else payment is effected after 60 days 10% of the dues paid within 3 days and balance in 60 days
A credit term of 3/10 net 60 means Discount of 0.3% if paid immediately else payment is effected after 60 days Discount of 10% if paid within 3 days else payment is effected after 60 days Discount of 3% if paid within 10 days else payment is effected after 60 days 10% of the dues paid within 3 days and balance in 60 days
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter10: Cash Receipts And Cash Payments
Section: Chapter Questions
Problem 1QY: What do credit terms of 2/10, n/30 mean? 210 days to pay on time or 30 days before going to...
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A credit term of 3/10 net 60 means
Discount of 0.3% if paid immediately else payment is effected after 60 days
Discount of 10% if paid within 3 days else payment is effected after 60 days
Discount of 3% if paid within 10 days else payment is effected after 60 days
10% of the dues paid within 3 days and balance in 60 days
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